You have just been hired as a financial analyst for Lydex Company, a manufacturer of...
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Accounting
You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the companys financial statements, including comparing Lydexs performance to its major competitors. The companys financial statements for the last two years are as follows: Lydex Company Comparative Balance Sheet This Year Last Year Assets Current assets: Cash $ 990,000 $ 1,230,000 Marketable securities 0 300,000 Accounts receivable, net 2,820,000 1,920,000 Inventory 3,630,000 2,300,000 Prepaid expenses 260,000 200,000 Total current assets 7,700,000 5,950,000 Plant and equipment, net 9,580,000 9,080,000 Total assets $ 17,280,000 $ 15,030,000 Liabilities and Stockholders' Equity
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